Weekly cattle and sheep market wrap
16 February 2024
Key points:
- The restocker yearling steer has eased by 28¢ to 366¢/kg lwt.
- The heavy lamb indicator has eased by 49¢ to 648¢/kg cwt.
- Combined sheep and lamb slaughter has lifted by 97,649 to 677,821 head.
Cattle
The cattle market has eased across all indicators. Yardings have eased by 3,898 to 75,856 head. Yardings eased in a majority of states except Tasmania and Victoria. Yardings are 30,758 head above the national average for the last five weeks.
The feeder steer indicator has eased by 21¢ to 335¢/kg live weight (lwt). Prices in Queensland and New South Wales have eased but continue to be above the national average. The lack of enthusiasm from buyers has potentially driven this drop in prices.
The restocker yearling steer has eased by 28¢ to 366¢/kg lwt. Prices in Queensland are 10¢ above the national average, contributing to 70% of the indicator. According to the National Livestock Reporting Service (NLRS) market reports, buyers were more intentional and selective with their purchases.
Sheep
The sheep and lamb market has eased for all indicators. Combined sheep and lamb yardings have eased by 50,976 head. Sheep yardings have eased by 22% compared to last week.
The heavy lamb indicator has eased by 49¢ to 648¢/kg carcase weight (cwt). Prices across all states eased and throughput for the indicator has eased by 22% over the past week. Prices eased significantly as major buyers did not participate in the market, depressing prices as a result.
The trade lamb indicator has eased 33¢ to 636¢/kg cwt. Buyers have entered this week more cautious and more sensitive to a quality finish on lambs. The highest prices were at Forbes at 696¢/kg cwt and New South Wales with the highest average prices at 11¢ above the national average.
Slaughter
Week ending 9 February 2024
Cattle slaughter has increased in all states except Western Australia, lifting by 8,513 to 122,577 head. Compared to the same time last year, slaughter has increased by 9% or 10,003 head.
Combined sheep and lamb slaughter has lifted by 97,649 to 677,821 head. Lamb slaughter rose by 68,116 to 475,975 head, contributing to 70% of the weekly slaughter. Weekly sheep and lamb slaughter on average has been 86,634 head above 2023 weekly slaughter around the same time last year.
